We have advised Ingersoll Rand Inc. (NYSE: IR) on its acquisition of 100% of the share capital of Termomeccanica Industrial Compressors S.p.A. (TMIC) and its subsidiary Adicomp S.p.A. (Adicomp) (together, TMIC/Adicomp) from Termomeccanica S.p.A.. The total value of the transaction is approximately €160m.
TMIC is an international leader in the design and manufacturing of air and gas compressors, with over 100 years of experience and innovation. Its subsidiary Adicomp, based in Italy, with a strong presence in the US, and recent expansion into Brazil and India, provides engineered-to-order solutions in the renewable natural gas sector.
Ingersoll Rand was established in 2020 following the spin-off of the industrial segment of Ingersoll-Rand Plc (now Trane Technologies) and its merger with Gardner Denver. The company is listed on the NYSE, with annual revenues of approximately $7.28bn and a market capitalisation of around $34.4bn. Ingersoll Rand provides compressed air solutions globally across a range of industries, including aerospace, textiles, energy, oil and gas, food, and chemicals. Headquartered in Davidson, North Carolina, it employs around 21,000 people worldwide and maintains a global commercial presence across North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific.
As part of the transaction, TMIC and Adicomp will join Ingersoll Rand’s Industrial Technologies and Services segment.
